Mortgage Interest Rates Today: February 24, 2022—Rates Trend Higher
Mortgage rates rose today, but if you’re interested in buying a home or refinancing your current home, you still have a shot at locking in a historically low rate.
As of today, the average rate on a 30-year fixed mortgage is 4.23% with an APR of 4.16%, according to Bankrate.com. The 15-year fixed mortgage has an average rate of 3.45% with an APR of 3.43%. On a 30-year jumbo mortgage, the average rate is 4.25% with an APR of 4.29%. The average rate on a 5/1 ARM is 2.93% with an APR of 4.03%.
|Loan Term||Rate||Change||Rate Last Week|
|30-Year Mortgage Rate||4.23%||0.03%||4.20%|
|15-Year Fixed Rate||3.45%||0.03%||3.48%|
|30-Year Jumbo Mortgage Rate||4.25%||0.05%||4.20%|
|5/1 ARM Rate||2.93%||0.00%||2.93%|
30-Year Fixed-Rate Mortgage Rates
Today, the average rate for the benchmark 30-year fixed mortgage rose to 4.23%. One week ago, the 30-year fixed was 4.20%. The 52-week high is 4.23%.
The 30-year fixed mortgage APR is 4.16%. At this time last week, it was 4.14%. Here’s why APR is important.
At today’s interest rate of 4.23%, borrowers with a 30-year fixed-rate mortgage of $100,000 will pay 491 per month in principal and interest (taxes and fees not included), the Forbes Advisor mortgage calculator shows. You’d pay about $76,677 in total interest over the life of the loan.
Read more here : https://www.forbes.com/advisor/mortgages/mortgage-rates-02-24-22/